Convert
Egyptian pound (EGP) to IOST (IOST) Instantly
Purchase IOST (IOST) with Egyptian pound (EGP) easily at Switchere and benefit from fast, secure transactions.
About
IOST (IOST)
IOST (Internet of Services Token) is an enterprise-grade blockchain platform designed to provide a highly scalable, secure, and decentralized network for the development of dApps. It directly addresses the blockchain trilemma by aiming for high throughput without sacrificing security or decentralization. The project stands out as a robust Web3 infrastructure, offering a developer-friendly environment capable of supporting service-oriented ecosystems. Its architecture is built to handle the high transaction volumes required by large-scale commercial applications, positioning it as a significant digital asset for enterprise solutions.
The core of IOST's innovation is its unique consensus mechanism, Proof-of-Believability (PoB). This algorithm operates alongside other proprietary technologies like Efficient Distributed Sharding (EDS) and Micro State Blocks (MSB) to achieve impressive transactions per second (TPS). PoB selects validators based on a believability score, which considers factors like token balance and reputation, ensuring network efficiency and cryptographic security. The native IOST utility token is essential for the ecosystem, used for paying gas fees, staking to contribute to the consensus mechanism, and participating in on-chain governance. This integrated tokenomics model incentivizes network participation and secures the distributed ledger.
How to Buy IOST (IOST)
Popular Coins for Egyptian pound (EGP)
Other Coins for Egyptian pound (EGP)
Frequently asked questions
-
What exactly is the EGP to IOST trading pair?
The EGP to IOST pair represents a direct fiat on-ramp allowing you to purchase the IOST digital asset using the Egyptian Pound. IOST is a high-performance blockchain platform utilizing a unique Proof-of-Believability (PoB) consensus mechanism, designed to provide an enterprise-level infrastructure for a scalable dApp ecosystem with ultra-fast TPS. -
What are common methods to buy IOST with EGP?
To purchase IOST with EGP, you typically use a cryptocurrency exchange that supports EGP deposits or a P2P marketplace. The process involves completing KYC/AML compliance, then funding your account using local payment methods like Egyptian bank transfers, or potentially services like Fawry or Vodafone Cash on P2P platforms, before executing a buy order on the EGP/IOST order book. -
What are the advantages of using a direct EGP/IOST pair?
Using a direct EGP/IOST pair provides immediate access to the IOST dApp ecosystem without needing to convert EGP to a major cryptocurrency like BTC or USD first. This simplifies the digital asset purchase process, reduces conversion fees, and allows for direct participation in IOST's network, which is known for its low gas fees and high scalability, making it ideal for developers and users. -
What kind of fees are involved when converting EGP to IOST?
Several fees can apply. First, a deposit fee for funding your exchange account with EGP, which varies by payment method. Second, the cryptocurrency exchange will charge a trading fee (maker or taker fee) for the EGP/IOST transaction. Finally, if you move your assets to a personal digital wallet, you'll pay a network withdrawal fee, which is typically very low on the IOST blockchain due to its efficient smart contract platform. -
What technical features of the IOST network should I understand after purchase?
After acquiring IOST, it's important to understand its Proof-of-Believability (PoB) consensus. This system involves Servi nodes that produce blocks and are selected based on their believability score. You can participate by staking your IOST to vote for these nodes. Also, familiarize yourself with its high-performance virtual machine and its ability to support smart contracts written in multiple languages, fostering a diverse dApp ecosystem.